Shell Petroleum B. V. don sign agreement to sell im full interest inside Shell Nigeria Gas Group give Nigerian energy company, Vaaris Energy Limited.
Shell Nigeria Gas dey run Nigeria domestic gas distribution business. Di business don serve industrial and commercial customers for more than 25 years.
Shell Country Chair for Nigeria, Elohor Aiboni, announce di transaction on Tuesday. She talk say di deal go provide stronger platform for di business under new ownership, and e go allow Shell to focus on im strategic deepwater and integrated gas positions for Nigeria.
Aiboni talk inside statement wey Shell Country Communications Manager, Gladys Afam-Anadu, sign. She talk say, ‘Shell Nigeria Gas don serve industrial and commercial customers for Nigeria for more than 25 years, and di commitment and expertise of im people support am.’
She add say, ‘We believe dis agreement provide much stronger platform for di business next chapter under new ownership. Shell continue to focus on strategic Deepwater and Integrated Gas positions for Nigeria.’
Di transaction still dey subject to regulatory conditions and approvals. Until completion, Shell Nigeria Gas Group go remain part of Shell and go continue to serve customers and operate as usual.
Shell Nigeria Gas Limited start for 1998 and e dey supply natural gas to industrial and commercial customers. E dey operate around 170 kilometres of pipeline infrastructure across Ogun, Abia and Rivers states, and e dey serve more than 130 connected commercial and industrial customers.
SNG no dey operate inside upstream gas production, liquefied natural gas or international gas trading.
Di transaction include Shell Nigeria Gas Holding B. V., wey dem establish for 2019. Di holding company hold all di shares except one inside Shell Nigeria Gas Limited.
Vaaris Energy Limited na Nigerian energy company wey get interests across di oil and gas value chain and e get existing operational footprint inside di country.
Shell talk say di sale dey consistent with im strategy to simplify im portfolio and concentrate investment inside areas where e get competitive strengths.
Di company talk say, ‘For Nigeria, our continued focus on Deepwater and Integrated Gas, including our interest for Nigeria LNG, exemplify our strategy.’
